Philippines: Preserved Tomato Market 2024

Preserved Tomato Market Size in the Philippines

The Philippine preserved tomato market rose markedly to $X in 2021, growing by 8.9% against the previous year. Overall, consumption recorded a resilient increase. Preserved tomato consumption peaked at $X in 2019; however, from 2020 to 2021, consumption remained at a lower figure.

Preserved Tomato Production in the Philippines

In value terms, preserved tomato production stood at $X in 2021 estimated in export price. Overall, production posted a remarkable increase. The pace of growth was the most pronounced in 2017 with an increase of 58% against the previous year. Over the period under review, production attained the maximum level at $X in 2019; however, from 2020 to 2021, production remained at a lower figure.

Preserved Tomato Exports

Exports from the Philippines

In 2021, shipments abroad of preserved tomatoes was finally on the rise to reach X kg after four years of decline. Over the period under review, exports enjoyed temperate growth. The most prominent rate of growth was recorded in 2016 when exports increased by 461% against the previous year. Over the period under review, the exports hit record highs in 2021 and are expected to retain growth in the near future.

In value terms, preserved tomato exports skyrocketed to $X in 2021. In general, exports enjoyed a modest expansion. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

The United Arab Emirates (X kg) was the main destination for preserved tomato exports from the Philippines, accounting for a 82% share of total exports. Moreover, preserved tomato exports to the United Arab Emirates exceeded the volume sent to the second major destination, Thailand (X kg), eightfold.

From 2012 to 2021, the average annual rate of growth in terms of volume to the United Arab Emirates stood at +19.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Thailand (+48.6% per year) and Palau (-4.0% per year).

In value terms, the United Arab Emirates ($X) emerged as the key foreign market for preserved tomatoes exports from the Philippines, comprising 76% of total exports. The second position in the ranking was held by Thailand ($X), with a 19% share of total exports.

From 2012 to 2021, the average annual growth rate of value to the United Arab Emirates stood at +14.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Thailand (+48.3% per year) and Palau (-1.6% per year).

Export Prices by Country

The average preserved tomato export price stood at $X per ton in 2021, with an increase of 17% against the previous year. Overall, the export price, however, showed a mild setback. The pace of growth was the most pronounced in 2015 when the average export price increased by 25%. As a result, the export price attained the peak level of $X per ton. From 2016 to 2021, the average export prices failed to regain momentum.

There were significant differences in the average prices for the major external markets. In 2021, amid the top suppliers, the country with the highest price was Thailand ($X per ton), while the average price for exports to Palau ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Palau (+2.5%), while the prices for the other major destinations experienced mixed trend patterns.

Preserved Tomato Imports

Imports into the Philippines

In 2021, approx. X tons of preserved tomatoes were imported into the Philippines; approximately reflecting the year before. Over the period under review, imports continue to indicate a mild decline. The pace of growth appeared the most rapid in 2015 with an increase of 38%. Over the period under review, imports hit record highs at X tons in 2017; however, from 2018 to 2021, imports failed to regain momentum.

In value terms, preserved tomato imports soared to $X in 2021. Overall, imports, however, continue to indicate a tangible increase. The pace of growth appeared the most rapid in 2017 when imports increased by 25%. As a result, imports reached the peak of $X. From 2018 to 2021, the growth of imports remained at a lower figure.

Imports by Country

In 2021, Italy (X tons) constituted the largest supplier of preserved tomato to the Philippines, accounting for a 43% share of total imports. Moreover, preserved tomato imports from Italy exceeded the figures recorded by the second-largest supplier, Spain (X tons), more than tenfold.

From 2012 to 2021, the average annual rate of growth in terms of volume from Italy totaled -8.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Spain (-12.8% per year) and the United States (-17.8% per year).

In value terms, Italy ($X) constituted the largest supplier of preserved tomatoes to the Philippines, comprising 39% of total imports. The second position in the ranking was taken by the United States ($X), with a 2.1% share of total imports.

From 2012 to 2021, the average annual growth rate of value from Italy stood at -5.8%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (-11.4% per year) and Spain (-11.6% per year).

Import Prices by Country

In 2021, the average preserved tomato import price amounted to $X per ton, surging by 20% against the previous year. Over the last nine years, it increased at an average annual rate of +3.5%. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was the United States ($X per ton), while the price for Spain ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United States (+7.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :